-0.00(-0.25%)

-5.90(-0.44%)

-216.95(-1.53%)

+0.0030(+0.4654%)

-0.0007(-0.0611%)

+61.98(+0.77%)

Aust shares look set to open higher

The Australian market looks set to open comfortably higher after all three major Wall Street indexes found yet further record highs.

At 0700 AEDT on Tuesday, the share price futures index was up 19 points, or 0.33 per cent, at 5,731.

In the US, stocks started the fourth quarter on a strong note as data pointed to underlying strength in the economy with a measure of manufacturing activity surging to a near 13-1/2-year high in September.

At the closing bell, the Dow Jones Industrial Average was up 0.7 per cent at 22,557.60, the S&P 500 had gained 0.4 per cent to 2,529.20 and the Nasdaq Composite had added 0.3 per cent to 6,516.72.

Locally, in economic news on Tuesday, the Reserve Bank of Australia holds its monthly board meeting and announces its interest rate decision.

The Australian Bureau of Statistics releases August's building approvals data, a key indicator of potential home construction activity and measuring the number of new home approved by local councils in the month.

The ANZ-Roy Morgan Consumer Confidence weekly survey is due out, as is the ANZ job advertisements series for September.

No major equities news is expected.

The Australian market on Monday closed closed higher after investors started the new quarter in a bullish mood following a positive lead from the US and encouraging economic data from China.